If you have started your business brand and think it will be better to build your company using business branding or personal branding services? This article will tell you everything you need to know about these two types of branding.
Business Brand:
First, let’s talk about what a Business brand is and how it differs from personal branding.
Advantages:
- It is separated from your personal life:
You don’t have to worry about stereotyping yourself when you have a business brand. You can use your identity to talk about anything you want if your business brand stays focused on your genre.
- No limitations to naming:
Another thing that differentiates the business brand from personal ones is that you can name it whatever you want. This way, you can make your business name catchy and easy to pronounce and spell. You can make the name memorable and unique.
- Easier to Sell the brand:
If you are starting your business, you would not be thinking about selling it. You should have a long-term plan. If you want to sell the brand in 20 years, would it be possible? Having a name unrelated to you would make the selling process more manageable.
Disadvantages:
However, business brands do not just have benefits. They have some cons too.
- Feels anonymous:
Most of the time, people do not like collaborating with faceless businesses. If you do not share your identity, it will get more challenging for you to market your product as well as people will not be too invested in your work.
- Low Inherent differentiation:
There are far more business brands in the world than there are personal brands. In contrast, all business brands start with nothing distinguishing them. On the other hand, private brands begin with a significant differentiation.
It is certainly possible to distinguish your business brand in a meaningful way, but your initial point is a little behind. Pivoting is more complicated.
Your audience will not be nearly as loyal if you create a business brand. Instead, they like your brand because of what it does for them. This makes brand extensions and pivots more challenging.
Personal Brands:
Now, let’s see how personal brands differ from business brands.
Advantages:
- Easier to get attention:
It is easier to attract customers from personal brands rather than business brands. If you create your brand with your name, people will be more likely to retain it.
- Easier to gain the public’s trust
It’s easier to grab someone’s attention as a personal brand because it’s easier to trust.
According to Nielsen’s Global Trust, 83 percent of people trust recommendations from someone they know. And 66% of customers trust online reviews left by people.
People place their trust in others. Especially those they know. And most of us, many of us form “parasocial relationships” with our brands.
- Loyal audience
When you build a personal brand, the audience you attract is more likely to stick with you.
Assume your brand is focused on how to become a successful freelancer. For years, you’ve been putting out helpful content about lead generation and client negotiation. As a result, you assist your followers in becoming more effective Freelancers and building great profit.
However, freelancing loses its appeal to you after a while.
But if your followers like you as a person, they will stay with you no matter what content you produce.
Disadvantages:
Although a personal brand has a few cons, one of its most significant drawbacks is the following.
- They are inextricably linked to the rest of your life.
One of the most significant disadvantages of developing a personal brand is that it remains with you forever. It becomes impossible to separate it from yourself for the rest of your life.
This might not be a big deal depending on the type of personal brand you want to create. Some private brands can cater to a wide range of interests. However, if you’re pursuing a specific niche, you might be stuck with it.
Building a personal brand around your primary job might not be the best idea if you are interested in seeking other interests. Because then you will feel obligated to run it. Even if you want to sell it, it will not be easy.
Conclusion
Both personal and business brands have their pros and cons. But Deciding whether to build a personal brand or a business brand is a personal choice. It mainly depends on the type of business you are attempting to promote.